Armed with $120M, HI-Bio joins race to develop better autoimmune disease drugs
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Photo caption: Travis Murdoch, the chief executive officer of HI-Bio. Permission granted by HI-Bio. Article by Gwendolyn Wu. BioPharma Dive – November 1, 2022.
Dive Brief:
- Human Immunology Biosciences, or “HI-Bio,” said Tuesday it has raised $120 million to develop targeted treatments for autoimmune and allergic diseases.
- HI-Bio is starting out with two drug candidates, called felzartamab and HIB210, that were licensed from German biotechnology company MorphoSys in June. Both are in clinical trials, with the former in Phase 2 testing for two rare kidney diseases and the latter in Phase 1.
- Arch Venture Partners and Monograph Capital incubated HI-Bio, which also drew funding from Jeito Capital among other investors. MorphoSys holds a 15% stake in the startup. […]
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